Based on data from more than 5,500 business leaders, the report reveals attitudes about compensation, hiring, and retention as the economy continues to recover from the recession. This latest research report shows that while most companies plan to grow in size and offer salary raises in 2015, employers are still very concerned about attracting and retaining top performing employees, which creates serious doubts about their ability to compete effectively in our rebounding economy.

A 2014 survey released by PayScale revealed some interesting information about compensation and workforce trends. PayScale surveyed over 4,700 companies of all sizes throughout several different industries in several different countries (although a majority of them were in the United States). Much of the information collected implied that a majority of businesses are doing well and looking to maintain or grow in 2015. Employers reported having plans to expand the workforce, achieve better financial performance, and give raises.

It's that time of the year again when performance reviews and salary upgrades are in the making. And what’s on nearly every compensation manager’s mind is the creation of those total compensation statements that’ll be going out soon. But before you roll out your total rewards statements for 2015, make sure you’ve done the following:

There are many industries where employment rates are subject to the major ups and downs of the U.S. economy. However, if there is one slice of the market that is recession proof, it is the transportation industry. Companies want to sell their products and to do so, they have to get them on the shelves, and that requires manpower. Career prospects for this industry have never looked better, and as of now the transportation industry is experiencing a massive growth spurt. The bottom line is that while leaders in other industries have to make tough calls when it comes to cutting salaries and letting people go, companies transporting tangible goods are willing to shell out the money to get their transportation positions filled. There is just one problem; a severe shortage of candidates applying for these jobs.

Retention was a hot issue in the 2014 Compensation Best Practices report with nearly 60% of you listing it as a top concern. Now that we're almost three quarters of the way through the year, we're checking in with you to find out what the status is now. Please take this 30 second survey to answer 4 short questions about the current state of retention and the talent market. You'll be able to compare your answers to all the others we've received as soon as you are done with the survey.

The Q2 2014 PayScale Index shows inconsistent wage growth across the board, as some industries such as IT and oil and gas experienced solid year-over-year gains, while wage growth in other industries actually declined. The PayScale Index also forecasts national quarterly wage growth in Q3 of 0.3 percent, resulting in sluggish annual wage growth of 1.9 percent. In addition, the PayScale Index shows real wage growth is down almost 8 percent since 2006, a measure that is calculated by analyzing nominal wage growth and the average change in price of a fixed basket of goods and services.

We’ve seen it in so many other industries over the last decade or so. Datafication, or using large amounts of data to report, analyze and predict, has revolutionized the way companies such as Wal-Mart, eBay and Amazon do business and now it’s the Human Resources profession’s turn to hop on the train. Sure, we will use it in different ways, but similar to the way Amazon knows which shoes I’m dying to have in my closet, we will eventually get to the point where we know the type of employee the organization needs, how long they will likely stay with the organization and nearly every step of their progression within the company, without even having to think about it.

Your Human Resources department most likely gathers and analyzes workforce data on a daily basis but you may not even realize that’s what you’re doing or how you can make the most of it. If you’re like one of the hundreds of thousands of companies that have upgraded their technology in the last several years, you probably have a wealthy of data about both past and current employees that you could be utilizing for more than just informational purposes. Though it does require some investment to establish criteria and additional databases, most companies have the beginnings of a fruitful workforce analytics system right under their noses.

Analytics are a significant consideration for business areas like marketing, sales and website management, but did you know it has also landed a position of importance in the HR world? Although it may not be the first thing you think of when you consider HR skills, analysis of big data is actually becoming an important function for HR professionals and departments. Working in a profession that is very people oriented can make some people leery of trusting their decision making to numbers, but the fact is, numbers show a black and white picture of what’s successful and what’s not. When coupled with your own experience and instincts, big data can make a big difference.

While some might argue that good decision making is as much art as science, there’s no question that good data, analyzed properly and applied strategically, can help organizations make better decisions more often than not. After all, perception has its limits.

PayScale is off to Las Vegas next week Monday and Tuesday for the HR Tech event which is a scintillating cauldron's brew of both HR and IT, and we love it. This got us thinking about typical Vegas-y jobs, and how much people with those jobs earn.

The development team at PayScale is continually hard at work making product improvements and creating new worthwhile features for our customers. The September 26th, 2013 update brings PayScale customers a few enhancements that improve the usability of both Insight and MarketRate products. Here are the updates PayScale customers can look for the next time they log into the product:

We've been talking about purple squirrels a lot lately at PayScale but what if your organization has a Squirrelcorn – a totally unique job that is the hybrid of two different jobs? How would you price that job? Or what about the situation where some of your jobs are moving faster (or slower) than the general market? Are you able to stay on top of those jobs to ensure you're keeping up with the market and paying employees the right amount? Two new exciting features of PayScale's software can help you with these situations.

PayScale is well known in the job seeker world as the place to go to find out what they should be paid. Many businesses also know PayScale for our fresh, detailed compensation dataset and our MarketRate product that gives market-based job reports. But did you know about that we also offer a software product called Insight Expert that can help you manage compensation for your entire workforce?

The skills gap is a growing concern for employers across America and there is no better example than in science, technology, engineering and math (STEM) industries. Of more than 4000 companies PayScale surveyed, 67% report having a skills gap in 2013. Its effects are felt by companies that are constantly under pressure to develop advanced technologies, but it’s also felt by companies across every imaginable industry simply filling positions in IT and related departments. In fact, the Bureau of Labor Statistics estimates that there will be 8,654,000 jobs in STEM jobs in just five years, and that’s not even including self-employed professionals. Job creation is certainly a positive thing, but 42 percent of employers believe that employees will enter the workforce unprepared for STEM jobs.

EMA Senior Care a long-term care organization with approximately 850 employees. EMA is located exclusively in Maryland, with six locations across the state. PayScale interviewed Jim Donovan, Director of Total Rewards, to discover how PayScale Insight is helping them drive their business objectives.

The drop in wages during Q1 2013 was, seemingly, a bump in the road for U.S. businesses as we surmised last quarter. Q2 2013 saw wage growth in most measures. However, wage growth overall has slowed down and annual wage growth, while still positive, is not as explosive as previous quarters. Previously high-performing industries (e.g., Healthcare, Biotech, Oil & Gas Exploration, etc.) floundered at the middle and bottom of the list this quarter.